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we are still on the economy. we'll come back to taxes and move on to the deficit and a lot of other things, too. >> mr. president, you are absolutely right, with regard to 97% of business is not taxed at the 30 boppers in tax rate, they are taxed at lower tax rate. but those top 3% employee half the -- those are the businesses that employ one-quarter of all the workers in america. your plan is to take that tax rate from 38% to 40%. federal income tax, federal payroll tax, state income tax, state sales tax, gasoline tax, it adds up to 50% oo what they earn. your plan is to take the tax rate on successful small businesses from 35% to 40%. the national federation of businesses has said that will cost 700,000 jobs. i don't want to cost jobs.+ my priority is jobs. what i'd do is bring down the tax rate, lower deductions and exemptions, the same idea behind bowles-simpson, by the way. get the breaks down, lower deductions and exemptions, to create more jobs. there is nothing better for+ getting us to a balanced budget
we are still on the economy. we'll come back to taxes and move on to the deficit and a lot of other things, too. >> mr. president, you are absolutely right, with regard to 97% of business is not taxed at the 30 boppers in tax rate, they are taxed at lower tax rate. but those top 3% employee half the -- those are the businesses that employ one-quarter of all the workers in america. your plan is to take that tax rate from 38% to 40%. federal income tax, federal payroll tax, state income...
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Oct 4, 2012
10/12
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CNBC
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and nobody as far as i know believes that the clinton economy was a bad economy. i mean, i was very proud to have been part of the clinton administration. it was one of the best economies we had. the tax rates did not harm small business. in fact, we had such a good economy because we had fiscal responsibility and at the same time we invested in infrastructure and in education. >> it was a different time. it was also the dot-com boom. >> that came at the end, that's right. but most people who look at those years and exclude those years that just preceding the dot-com boom understand that was a very good economy. do you believe or does anybody -- i mean, i would be very interested in grover norquist if he thought the clinton years represented a bad economy and if they were bad tax rates. >> as much fun it would be to relive the clinton years tonight, mr. secretary, i'd love to get grover -- i want you to expand more on this deduction limit. are you saying it might violate the letter of the no tax pledge but it does not violate the spirit? >> no, no. the president -
and nobody as far as i know believes that the clinton economy was a bad economy. i mean, i was very proud to have been part of the clinton administration. it was one of the best economies we had. the tax rates did not harm small business. in fact, we had such a good economy because we had fiscal responsibility and at the same time we invested in infrastructure and in education. >> it was a different time. it was also the dot-com boom. >> that came at the end, that's right. but most...
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Oct 4, 2012
10/12
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FOXNEWS
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the economy is still slow. as a matter of fact, it's growing more slowly now than when you made that statement. if you believe the same thing, you don't want to raise taxes on people. the reality is, it is not just donald trump you are taxing. it is all those businesses that employ one-quarter of the work fwherz america. these small businesses that are taxed as individuals. you raise taxes and you kill jobs. that's why the national federation of independent businesses said your plan will ket kill 700,000 jobs. i don't want to kill jobs in this environment. let me make one more point -- >> jim: let's let him answer the tacks thing for a moment. >> okay. >> well, we have had -- >> jim: about the idea in order to reduce the deficit, there has to be revenue in addition to cuts. >> governor romney has ruled out revenue -- [overlapping dialogue] >> the revenue i get is by more people working, getting higher pay, paying more taxes. that's how we get growth and how we balance the budget. but the idea of taxing people m
the economy is still slow. as a matter of fact, it's growing more slowly now than when you made that statement. if you believe the same thing, you don't want to raise taxes on people. the reality is, it is not just donald trump you are taxing. it is all those businesses that employ one-quarter of the work fwherz america. these small businesses that are taxed as individuals. you raise taxes and you kill jobs. that's why the national federation of independent businesses said your plan will ket...
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Oct 4, 2012
10/12
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KNTV
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so that you can have an economy work. every free economy has good regulation. at the same time regulation could become excessive. >> is it excessive now? >> in some places. >> like where? >> it can become out of sedate. and what's happened with some of the legislation that's been passed during the president's term, you've seen regulation become excessive, and it's hurt the economy. let me give you an example. dodd-frank was passed, and it includes within it a number of provisions that i think have some unintended consequences that are harmful to the economy. one is it designates a number of banks as too big to fail. and they're effectively guaranteed by the federal government. this is the biggest kiss that's been given to new york banks i've ever seen. this is an enormous boon for them. there have been 122 community and small banks have closed since dodd-frank. so there's one example. here's another. in -- >> you want to repeal dodd-frank? >> i would repeal and replace it. wee not going to get rid of all regulation. you have to have regulation. and there are so
so that you can have an economy work. every free economy has good regulation. at the same time regulation could become excessive. >> is it excessive now? >> in some places. >> like where? >> it can become out of sedate. and what's happened with some of the legislation that's been passed during the president's term, you've seen regulation become excessive, and it's hurt the economy. let me give you an example. dodd-frank was passed, and it includes within it a number of...
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we're still on the economy. this is theoretically, now, a second segment still on the economy, and specifically on what to do about the federal deficit. the federal debt. and the question, you each have two minutes on this -- and, governor romney, you go first because the president went first on segment one. romney: yeah. >> moderator: and the question is this, what are the differences between the two of you as to how you would go about tackling the deficit problem in this country. romney: i'm glad you raised that, and it's a criticallish hsu. i think it's not just a economic issue, i think it's a moral issue. it's not moral for my generation to keep spending massively more than we take in knowing those burdens are going to be passed on the the next generation, and they're going to be paying the interest and the principal all their lives. and the amount we're adding at a trillion a year is simply not moral. so how do we deal with snit mathematically, there are three ways that you can cut a deficit. one, of cours
we're still on the economy. this is theoretically, now, a second segment still on the economy, and specifically on what to do about the federal deficit. the federal debt. and the question, you each have two minutes on this -- and, governor romney, you go first because the president went first on segment one. romney: yeah. >> moderator: and the question is this, what are the differences between the two of you as to how you would go about tackling the deficit problem in this country....
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the economy right now? is there too much? mr. president, should there be more? this is not in -- this is a two- minute segment to start. >> regulation is essential. you cannot have a free market work if you do not have regulation. i need to know the regulations. you cannot have people opening of things in their garage and making loans. you have to have regulations for an economy to work. regulation can become excessive. >> is it excessive now? where? >> in some places. with some of the legislation passed during the president's term, it has become excessive. it has hurt the economy. for example, dr. frank -- dod rank -- dod -frank dissipates banks too big to fail. this is an enormous boon for new york banks. there have been 122 community and small banks have close since dodd-frank. >> you want to repeal dodd- frank? >> i would repel and replace it. there are some parts that make all of t sense in the world. in a transparency, the average once -- leverage lemons. --limits. >> of us to let him respond to this
the economy right now? is there too much? mr. president, should there be more? this is not in -- this is a two- minute segment to start. >> regulation is essential. you cannot have a free market work if you do not have regulation. i need to know the regulations. you cannot have people opening of things in their garage and making loans. you have to have regulations for an economy to work. regulation can become excessive. >> is it excessive now? where? >> in some places. with...
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every free economy has good regulations. at the same time, regulation could become excessive. >> is it excessive now? >> in some places, yes. in some places, no, it can become out of date. in some legislation passed during the president's term, have you seen regulation become excessive and it's hurt the economy. let me give you an example. dodd-frank was passed and it includes within it a number of provisions that, i think, has some unintenned itted consequences that are harmful to the economy. one is banks are too big to fail. that is the biggest kiss to new york banks i have ever seen. 122 community and small banks have closed since dodd-frank. there is one example. here's another. >> you want to repeal dodd-frank? >> repeal and replace it. we're not getting rid of all regulation. you have to have regulation. there are some parts of dodd-frank that make all the sense in the world. you need transparency, you need to have leverage limits for institutions. >> here is the specific -- >> excuse me. >> let's talk about the big o
every free economy has good regulations. at the same time, regulation could become excessive. >> is it excessive now? >> in some places, yes. in some places, no, it can become out of date. in some legislation passed during the president's term, have you seen regulation become excessive and it's hurt the economy. let me give you an example. dodd-frank was passed and it includes within it a number of provisions that, i think, has some unintenned itted consequences that are harmful to...
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Oct 4, 2012
10/12
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WMAR
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spain spends 42% of their total economy on government. >> okay. >> we're not spending 42% of our economy on government. i don't want to go down the path of spain. i want to go down the path of growth that puts americans to growth with more money coming in. >> go ahead, mr. president. you are saying, in order to get the job done it's got to be balanced. >> if we are serious, you have to take a balanced approach. by the way, this is not just individual taxes. let's talk about corporate taxes. now, i've identified areas where we can, right away, make a change that i believe would actually help the economy. the oil industry gets $4 billion a year in corporate welfare. basically. they debt deductions that those small businesses that governor romney refers to, that they don't get. now, does anybody think that exx exxon-mobil needs extra money? why wouldn't we want to eliminate that? eliminate tax breaks for corporate jets. if you have one, you can probably afford to pay full for it. when it comes to corporate taxes, governor romney said he wants to, in a revenue-neutral way, close loopholes, d
spain spends 42% of their total economy on government. >> okay. >> we're not spending 42% of our economy on government. i don't want to go down the path of spain. i want to go down the path of growth that puts americans to growth with more money coming in. >> go ahead, mr. president. you are saying, in order to get the job done it's got to be balanced. >> if we are serious, you have to take a balanced approach. by the way, this is not just individual taxes. let's talk...
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Oct 4, 2012
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MSNBCW
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economy on government. >> okay. >> we're now spending the 42% of our economy on government. i don't want to go down the path to spain. i want to go down the path of growth that puts americans to work with more money coming in because they're working. >> yeah, but, mr. president, you're saying in order to get it -- get the job done, it's got to be balanced? >> if we're serious, we've got to take a balanced, responsible approach. and by the way, this is not just when it comes to individual taxes. let's talk about corporate taxes. now, i've identified areas where we can, right away, make a change that i believe would actually help the economy. the oil industry gets $4 billion a year in corporate welfare. basically, they get deductions that those small businesses that governor romney refers to, they don't get. now, does anybody think that exxonmobil needs some extra money, when they're making money every time you go to the pump? why wouldn't we want to eliminate that? why wouldn't we eliminate tax breaks for co
economy on government. >> okay. >> we're now spending the 42% of our economy on government. i don't want to go down the path to spain. i want to go down the path of growth that puts americans to work with more money coming in because they're working. >> yeah, but, mr. president, you're saying in order to get it -- get the job done, it's got to be balanced? >> if we're serious, we've got to take a balanced, responsible approach. and by the way, this is not just when it...
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Oct 4, 2012
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they are doing fine in the economy. the people who are having a hard time are middle-income americans. under the president's policies, they have been buried. middle income americans have seen their income decreased by $4,300. this is a tax in itself -- the economy tax. gasoline prices have doubled under the president, electric rates are up, food prices are up, health-care costs have gone up by $2,500 per family. the question is how to get them going again. it is energy and trade. the right kind of training programs. the president mentioned those ideas. education. it is key. it is the future of our economy. we have 47 training programs. they are reporting to eight agencies. we have to get those dollars back to the states and to the workers so they can create pathways into training they need for jobs that will help them. taxation. we should bring the tax rates down. for corporations and individuals. for us not to lose revenue, i lowered deductions and credits and intentions so we keep taking in the same money when you acc
they are doing fine in the economy. the people who are having a hard time are middle-income americans. under the president's policies, they have been buried. middle income americans have seen their income decreased by $4,300. this is a tax in itself -- the economy tax. gasoline prices have doubled under the president, electric rates are up, food prices are up, health-care costs have gone up by $2,500 per family. the question is how to get them going again. it is energy and trade. the right kind...
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Oct 4, 2012
10/12
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CNNW
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the economy is still growing slow. as a matter of fact, it's growing much more slowly now than when you made the statement. if you believe the same thing, you don't want to raise taxes on people. and the reality is, it's not just wealthy people, not just donald trump are you taxing. it's all the businesses that employ one quarter of the workers in america, that are taxes as individuals. you raise taxes and you kill jobs. that's why the national federation of independent businesses say your plan will kill 700,000 jobs. i don't want to kill jobs in this environment. i want to make one more point. >> let him answer the tax thing for a moment. >> okay. >> mr. president. >> well, we've had this discussion before. >> well, in order -- about the idea to reduce the deficit, there has to be revenue in addition to cuts. >> there has to be revenue in addition to cuts. >> mr. romney has rule out revenue. >> look, the revenue i get is by more people working, getting higher pay, paying more taxes. that's how we get growth and balanc
the economy is still growing slow. as a matter of fact, it's growing much more slowly now than when you made the statement. if you believe the same thing, you don't want to raise taxes on people. and the reality is, it's not just wealthy people, not just donald trump are you taxing. it's all the businesses that employ one quarter of the workers in america, that are taxes as individuals. you raise taxes and you kill jobs. that's why the national federation of independent businesses say your plan...
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Oct 4, 2012
10/12
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CURRENT
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they are doing just fine in this economy. the people having a hard time right now are middle income americans. they have been buried. they are just being crushed. middle income americans have seen their income come down by $4,300. this is a tax in and of itself i'll call it the economy tax. it has been crushing. at the same time gasoline prices have doubled under the president, electric rates are up, food prices are up health care costs have gone up by $2,500 a family. middle income families are being crushed. and the question is how to get them going again, and i described it energy trade, the right kind of training programs, balancing our budget, and helping small business. but the president mentioned a couple of other ideas. first education. i agree. education is key. but our training programs right now, we have 47 of them housed in the federal government reporting to eight different agencies, we have got to get those dollars back to the states and go to the workers so they can create their own pathways to get in the train
they are doing just fine in this economy. the people having a hard time right now are middle income americans. they have been buried. they are just being crushed. middle income americans have seen their income come down by $4,300. this is a tax in and of itself i'll call it the economy tax. it has been crushing. at the same time gasoline prices have doubled under the president, electric rates are up, food prices are up health care costs have gone up by $2,500 a family. middle income families...
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Oct 4, 2012
10/12
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CURRENT
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he has got to say you are taking the economy down the wrong path and here is what i will do to change it. he has to be that simple that declarative or else people will tune out quickly. and he has got to talk to his folks immediately. i think a lot of this depends on jim lehrer. i think how aggressive will he be in the questioning and follow ups? will he become a bipartisan advocate going after inconsistencies? >> jennifer: the format is a little more flexible. so there's an opportunity for mitt romney to not only get his licks in but in response to the president as well. and if he doesn't come out swinging, i think he has let an opportunity pass. >> cenk: and on the other hand john, he can overstep if he is too disrespectful to the president. >> john: of course. yeah i'm here for zinger watch 2012. and i found it curious when his campaign leaked that he was rehearsing his ad libs a few days ago. but it's worth pointing out governor romney has only debated democrats twice in his career. he did a great job in the primary season not getting too flustered. but when you are being pummelle
he has got to say you are taking the economy down the wrong path and here is what i will do to change it. he has to be that simple that declarative or else people will tune out quickly. and he has got to talk to his folks immediately. i think a lot of this depends on jim lehrer. i think how aggressive will he be in the questioning and follow ups? will he become a bipartisan advocate going after inconsistencies? >> jennifer: the format is a little more flexible. so there's an opportunity...
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Sep 30, 2012
09/12
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CSPAN
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we have restored much of our economy. with regard to business investment, it is higher than it has been since 1949. so, there seems to be no shortage of investment capital. we have, as i said, cut the taxes, but we have reduced inflation, and for 2 years now it has stayed down there, not at double digit, but in the range of 4 or below. we believe that we had also promised that we would make our country more secure. yes, we have an increase in the defense budget. but back then we had planes that couldn't fly for lack of spare parts or pilots. we had navy vessels that couldn't leave harbor because of lack of crew or, again, lack of spare parts. today we're well on our way to a 600-ship navy. we have 543 at present. we have -- our military, the morale is high. i think the people should understand that two-thirds of the defense budget pays for pay and salary, or pay and pension. and then you add to that food and wardrobe, and all the other things, and you only have a small portion going for weapons. but i am determined that i
we have restored much of our economy. with regard to business investment, it is higher than it has been since 1949. so, there seems to be no shortage of investment capital. we have, as i said, cut the taxes, but we have reduced inflation, and for 2 years now it has stayed down there, not at double digit, but in the range of 4 or below. we believe that we had also promised that we would make our country more secure. yes, we have an increase in the defense budget. but back then we had planes that...
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Sep 30, 2012
09/12
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we are the envy of the world about the economy despite economy. our exports are up. i might say to mr. perot that you might have missed it, because there is s much fascination with thrif deal with jeltsin to eliminate the -18, the big missle. that's been done. god it has becau the parents of these young people around here go to bed night witho same fear of nuclear war. we e dramatic progress. we have a good military. the question to get a new military and the best in the world, we got it. they're keeping the peace and they're respected around the world and we're more respected because of the way we conducted ves. we didn't listen to the nuclear freeze crowd. the cold war is over. america understands that. we're turned so inward that we don't understand the global picture. we are helping democracy, the freedom support act is something i got through the ngress because it does exactly what you say. i think you agree with that to help russian democracy. we're going to keep on doing that. >> the next question is for governor clinton. >> as president, how wld you exsert u.
we are the envy of the world about the economy despite economy. our exports are up. i might say to mr. perot that you might have missed it, because there is s much fascination with thrif deal with jeltsin to eliminate the -18, the big missle. that's been done. god it has becau the parents of these young people around here go to bed night witho same fear of nuclear war. we e dramatic progress. we have a good military. the question to get a new military and the best in the world, we got it....
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Sep 30, 2012
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meant for the economy. i think most of the economic growth that has taken place is a result of ingenuity and hard work and entrepreneurship and that's the role of goverment to encourage that. in terms of in response to the question, no. >> can i comment on that? >> you may. >> you know, i think the american people deserve credit for the great economy that we have. it's their ingenuity, i agree with that. but you know, they were working pretty hard eight years ago. and now they had ingenuity eight years ago. the difference is we've got a new policy. and instead of concentrating on tax cuts mostly for the wealthy, we want -- i want tax cuts for the middle-class families and i want to continue the prosperity and make sure that it enriches not just a few but all of our families. we have gone from the biggest deficits to the biggest surpluses. we have gone from a triple-dip recession during the previous 12 years to a tripling of the stock market. instead of a high unemployment, we have the lowest african- americ
meant for the economy. i think most of the economic growth that has taken place is a result of ingenuity and hard work and entrepreneurship and that's the role of goverment to encourage that. in terms of in response to the question, no. >> can i comment on that? >> you may. >> you know, i think the american people deserve credit for the great economy that we have. it's their ingenuity, i agree with that. but you know, they were working pretty hard eight years ago. and now they...
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it is not too late to turn this economy around. it is not too late to secure for our children the promise of america that our parents secured for us. we can do this. we can get this together. we can put this together. and together we can get this done. and you know what? granite staters, you have an norm responsibility and an enormous opportunity. a handful of states will settle this. you understand this. you have had presidential candidates in your kitchens. you are used to this. that's why you know the responsibility that you have. you have a responsibility to talk to your fellow citizens, to get those people that like the promise of home hope and change four years ago that are demoralized now to show them we have a better path. we are going to reapply founding principles. we are not going to duck the tough issues. we are going to lead. mitt romney is not going to spend the next four years blaming other people, he's going to take responsibility. we will not replace our founding principles, we will reapply our founding principles.
it is not too late to turn this economy around. it is not too late to secure for our children the promise of america that our parents secured for us. we can do this. we can get this together. we can put this together. and together we can get this done. and you know what? granite staters, you have an norm responsibility and an enormous opportunity. a handful of states will settle this. you understand this. you have had presidential candidates in your kitchens. you are used to this. that's why...
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Sep 30, 2012
09/12
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CSPAN
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the economy is starting downhill with housing failure --- >> thank you, mr. mondale. you're both very obedient. i have to give you credit for that. we now start our final round of questions. we do want to have time for your rebuttal. we start with diane -- diane sawyer. >> since we are reaching the end of the question period, and since in every presidential campaign, the candidates tend to complain that the opposition candidate is not held accountable for what he or she says, let me give you the chance to do that. mr. mondale, beginning with you. what do you think the most outrageous thing is your opponent said in this debate tonight? [laughter] >> do you want to give me some suggestions? [laughter] i'm going to use my time a little differently. i'm going to give the president some credit. i think the president has done some things to raise the sense of spirit, morale, good feeling in this country, and he's entitled to credit for that. what i think we need, however, is not just that but to move forward, not just congratulating ourselves but challenging ourselves to ge
the economy is starting downhill with housing failure --- >> thank you, mr. mondale. you're both very obedient. i have to give you credit for that. we now start our final round of questions. we do want to have time for your rebuttal. we start with diane -- diane sawyer. >> since we are reaching the end of the question period, and since in every presidential campaign, the candidates tend to complain that the opposition candidate is not held accountable for what he or she says, let me...
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Sep 30, 2012
09/12
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CSPAN
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we live in a global economy, not a national economy. these interest rates we have now don't make any sense. we have a $4 trillion debt, and only in nerc would -- only in america would you finance seventy percent of it five years or less. so seventy percent of our debt is five years or less. it's very interest sensitive. we have a four percent gap between what we pay for treasuries, and what germany pays for one to five year treasuries. that gap is going to close, because the arabs, the japanese and folks in this country are going to start buying german treasuries because they can get more money. every time our interest rates go up one percent, that adds 28 billion dollars to the deficit or to the debt. whichever place you put it. we are sitting on a ticking time bomb folks, because we have totally mismanaged our country, and we had better get it back under control. just think in your own business, if you had all of your long term problems financed short term. you'd go broke in a hurry. >> we're going to move to foreign affairs. [applaus
we live in a global economy, not a national economy. these interest rates we have now don't make any sense. we have a $4 trillion debt, and only in nerc would -- only in america would you finance seventy percent of it five years or less. so seventy percent of our debt is five years or less. it's very interest sensitive. we have a four percent gap between what we pay for treasuries, and what germany pays for one to five year treasuries. that gap is going to close, because the arabs, the japanese...
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privilege to serve as your vice president these last four years and work alongside president bush put our economy on an upward path. we've cut taxes, added 1.7 new jobs in the last year we'll continue to provide opportunities for business and for workers. we won't be happy until every american wants to work and find a job. we believe that all americans ought to have access to available -- to medical care, and that they ought to have access to the finest schools in the world. we'll do everything we can to preserve social security and to make certain that it's there for future generations. i work for four presidents and watched two others up close, i know that there's no such thing as a routine day in the oval office. we saw in 9/11 that the next president -- next decision of president has to make can affect the lives of all of us. now we find ourselves in the midst of a conflict unlike any we've ever known. faced with the possibility that terrorists could smuggle deadly biological agent or nuclear weapon into the middle of one of our own cities. that threat and presidential leadership needed to de
privilege to serve as your vice president these last four years and work alongside president bush put our economy on an upward path. we've cut taxes, added 1.7 new jobs in the last year we'll continue to provide opportunities for business and for workers. we won't be happy until every american wants to work and find a job. we believe that all americans ought to have access to available -- to medical care, and that they ought to have access to the finest schools in the world. we'll do everything...